261 Fifth Avenue, New York, NY 10016 – NoMad / Midtown South
Asking Price: $26,000
Size: 4,327 sq ft
Use: Office / Showroom / Boutique Corporate / Creative Studio
Lease Type: Commercial Lease
Price per Sq Ft: ~$6.01/sq ft/year | ~$0.50/sq ft/month
Property Overview
This 4,327-square-foot office space at 261 Fifth Avenue presents a highly competitive value in the prestigious and central NoMad neighborhood. With a revised asking price of $26,000, this space now offers a significantly lower price per square foot, making it a standout opportunity for securing a substantial footprint on Fifth Avenue. This pricing strategy may attract a wider range of tenants, from established creative agencies and boutique financial firms to growth-stage tech companies seeking a cost-effective yet prestigious upgrade.
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Space Highlights
- Substantial 4,327 sq ft of commercial space on Fifth Avenue
- Exceptional value at approximately $6.01/sq ft/year for a prime NoMad location
- Likely features functional layouts suitable for open-plan offices, studios, or showroom configurations
- The reduced asking price enhances the space’s appeal for businesses balancing budget with a desirable address
- Suitable for tenants needing significant square footage without the premium cost typically associated with this corridor
Location & Neighborhood
- Prime NoMad location on Fifth Avenue between 28th and 29th Streets
- In the heart of a district renowned for luxury hotels, fine dining, and high-end residential development
- Adjacent to the Flatiron District and Koreatown, with seamless access to Midtown and Chelsea
- Surrounded by a vibrant mix of historic architecture, modern retail, and corporate offices
- Excellent transportation access via the N/R/W, 6, and B/D/F/M trains at 28th Street, 34th Street-Herald Square, and 23rd Street
- Walkable to Madison Square Park, the Empire State Building, and Koreatown’s dining and nightlife
Summary
Offered at $26,000 (~$6.01/sq ft/year), this 4,327 sq ft office space at 261 Fifth Avenue is now an outstanding value proposition in the NoMad market. The adjusted rent makes this a strategic opportunity for a savvy tenant to acquire a large, prominent space on Fifth Avenue at a cost well below the area’s typical premium. This space is ideal for a growing company that prioritizes size, location, and budget flexibility, allowing them to establish or expand a significant presence in one of Manhattan’s most desirable commercial districts without overextending financially.
